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Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
 It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the start of the year, it was one of the favorite topics amongst participants in the shipping industry how challenging 2020 would be. However, no one could have guessed the level of this challenge. With some certainty, we can argue that Covid-19 spread will be a strong test, from a social, as well as an economical perspective. Instead of making further assumptions as to how the virus outbreak may or may not affect different market aspects, we could take things from a different angle and view hoping to better understand how different mechanisms are currently reacting to this unique situation, Thomas Chasapis, Research Analyst of Allied shipping Research said in his latest weekly report.
Thomas Chasapis further noted that, the global economic slowdown seems to be the inevitable outcome, emphatically evident from the recent trends being portrayed in global markets. Beyond this, the real question is as to how big this step back will eventually be. Week over week all forecasts regarding economic development and macroeconomic trends seem very prone to downward revisions, given that the virus spread seems to be more dynamic and unpredictable as time goes by. A glimpse of optimism was noted during the past weeks, given the decreasing rate of new cases testing positive to the COVID-19 virus in China. However, witnessing the hefty growth in cases reported in Italy (and across Europe), a strong wave of doubt and uncertainty has firmly hit the general economic environment. The discussions surrounding a wider quantitative easing will certainly help stabilize financial markets, a tool that has helped in many cases of severe downward pressure in the past. Regardless though of the effort made by central institutions and given the unpredictable time duration of this tail risk, it will eventually be a unique test as to the credit risks present in the financial industry. Furthermore, witnessing the steep collapse of more than 30% in oil price, the scene has become even more volatile. Theoretically, "cheap" oil would be a boost for growth and consumer spending power. However, when overall demand is, to say the least, fragile, in what way this "abundant" supply could affect the real economy seems rather questionable.
How does all the above translate over to the shipping industry? Thomas Chasapis, Research Analyst of Allied shipping Research says, certainly, the anticipation of a major step back in economic growth (which means respectively a significant slowdown in seaborne trade), can't be under any case be considered a "good" sign. A somehow opposing argument to this is the fact that dry FFA long-term contracts have increased since the beginning of the year. Maybe, this is just an optimistic opinion shared by a small minority, or maybe the fundamentals are strong, and this periodical affect is unrelated to the macro economical prospect of the dry bulk sector.
In any case, given the mixed macroeconomic environment, it would be wise to focus for the time being on the near-term picture noted in the dry bulk sector. The past couple of weeks the market seems to be in a state of transition, seemingly in a process of recovering from a freight market bottom (especially for the medium size segments – Panamaxes and Supramaxes). Time is the key variable here. As the virus spread doesn't seem to be yet under check, sentiment will turn ever more negative, while extra pressure will be applied to cash reserves and cash flows as well as to daily operating activities. On the other hand, the window of a steeper upward potential is growing, given the higher slippage rate of cargo volumes that potentially could take shape. This may well mean that we could see exaggerated returns take place from the early onset of the summer period.
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Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- The University of Queensland
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
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